Dropshipping News Weekly Update Vol.13
Here are five pieces of dropshipping news for you to catch up with.
1. eBay adds new overseas warehouse service provider “Dajian Yuncang”
On August 19, eBay announced that in order to further expand sellers’ choice of overseas warehouse service providers during peak seasons and to help sellers better expand their large and heavy goods business, it added a new large and heavy cargo supply chain company, Dajian Yuncang, to serves as an overseas warehouse service provider that does data docking with eBay. eBay stated that using eBay data to dock warehouse shipments will help the system accurately identify overseas warehouse suppliers and end-haul logistics services used by sellers, and prevent related transactions from being identified as fake overseas warehouse transactions.
2. PayPal announces cancellation of late payment fees for “buy first, pay later” service
On August 19, it was reported that with the rise of the “buy first, pay later” service and the heating up of market competition, PayPal announced that it would no longer charge late fees to “buy first, pay later” users. PayPal said the policy will take effect in the USA, the UK, and France from October this year. Greg Liszewski, vice president of global payment products at PayPal, said in an interview: “We think late fees hinder the customer experience.”
3. Shopee’s GMV in the second quarter reached US$15 billion, a year-on-year increase of 87.5%
On August 18, Shopee’s parent company Sea Limited announced its financial results for the second quarter of 2021 as of June 30. In the second quarter, the company’s total GAAP revenue was US$2.3 billion, a year-on-year increase of 158.6%; among them, GAAP revenue from e-commerce and other services increased by 174.1% to US$9997 million. In the same period, the company’s gross profit totaled $930.9 million, a year-on-year increase of 363.5%; the adjusted total profit before interest, tax, depreciation, and amortization were $24.1 million. In the second quarter, Shopee’s GAAP revenue was $1.2 billion, a year-on-year increase of 160.7%; total orders were $1.4 billion, a year-on-year increase of 127.4%; total merchandise transactions were $15 billion, a year-on-year increase of 87.5%.
4. Etsy Labor Day Promotion is coming soon
August 30 to September 7 is Etsy’s Labor Day promotion. Participating sellers must be prepared for a 20% discount and must provide international shipments. Etsy will use emails and other promotional activities to attract traffic and said that the Labor Day promotion is an excellent opportunity for small sellers and shoppers to establish contact.
5. PayPal launches cryptocurrency service in the UK
Starting this week, PayPal will allow UK customers to buy, hold and sell electronic currency. This is the first international expansion of PayPal’s encryption service since its launch in the United States last year. PayPal stated that its foray into cryptocurrency is to make it easier for people to participate in the market.
Facebook Group Discussion
Every time if they fail to deliver the product in time, they reply to the ticket with this message. So unreal. This looks like a message template for excuses.
---The product had arrived in our warehouse on 21, but it failed to pass the quality inspection. Therefore, we have asked for a new one in transit to our warehouse, which will take3 days. We will dispatch your products as soon as they are all stocked. Thanks for your understanding. Have a nice day! Best Regards--- ... See MoreSee Less
𝟑 𝐑𝐞𝐚𝐬𝐨𝐧𝐬 𝐖𝐡𝐲 𝐘𝐨𝐮𝐫 𝐅𝐚𝐜𝐞𝐛𝐨𝐨𝐤 𝐀𝐝𝐬 𝐀𝐫𝐞 𝐍𝐨𝐭 𝐂𝐨𝐧𝐯𝐞𝐫𝐭𝐢𝐧𝐠..
1 - 𝙉𝙤𝙩 𝙜𝙞𝙫𝙞𝙣𝙜 𝙚𝙣𝙤𝙪𝙜𝙝 𝙩𝙞𝙢𝙚
When setting up a Facebook Ads campaign, you should know that your ads often need at least 3 days of running time to progress from the learning phase.
In the learning phase, your ads will often perform poorly. That’s because Facebook’s algorithm is still “testing out the waters” and trying to target different smaller audience groups within your target audience to find out which responds the best to your ad.
So, before thinking that your Facebook ads aren’t converting, leave them running for at least two or three days, and you will likely see an improvement in your campaign’s performance.
Don’t forget that it works the other way around as well. If you leave your ads running for a long time (especially for smaller audiences), ad fatigue will occur, and your Facebook ads will stop converting.
2 - 𝙁𝙖𝙞𝙡𝙞𝙣𝙜 𝙩𝙤 𝙖𝙣𝙖𝙡𝙮𝙯𝙚
Most businesses want to increase their Facebook Ads conversion rate, but with so many variables to consider, I understand that it may be challenging to do so.
Luckily, you can analyze your Facebook ad campaigns to get a clearer picture of what can be improved. The more data that you have, the better your chances of optimizing your ads.
To optimize the conversion of your Facebook ads, these are the most important metrics to look at:
- 𝘾𝙋𝘾 (𝘾𝙤𝙨𝙩 𝙥𝙚𝙧 𝘾𝙡𝙞𝙘𝙠)
- 𝘾𝙏𝙍 (𝘾𝙡𝙞𝙘𝙠-𝙏𝙝𝙧𝙤𝙪𝙜𝙝 𝙍𝙖𝙩𝙚)
- 𝘾𝙋𝙈 (𝘾𝙤𝙨𝙩 𝙥𝙚𝙧 1,000 𝙄𝙢𝙥𝙧𝙚𝙨𝙨𝙞𝙤𝙣𝙨)
- 𝘾𝙤𝙨𝙩 𝙥𝙚𝙧 𝘾𝙤𝙣𝙩𝙚𝙣𝙩 𝙑𝙞𝙚𝙬
- 𝙑𝙞𝙙𝙚𝙤 𝘼𝙫𝙚𝙧𝙖𝙜𝙚 𝙋𝙡𝙖𝙮 𝙏𝙞𝙢𝙚 (𝙞𝙛 𝙖𝙥𝙥𝙡𝙞𝙘𝙖𝙗𝙡𝙚)
If you get to know which of these metrics underperform for your campaign, then it will be much easier to fix the problem that your Facebook ads are not converting!
After advertising on Facebook for some time, you will get a feeling for when a particular metric is under or overperforming.
3 - 𝙉𝙤𝙩 𝙩𝙚𝙨𝙩𝙞𝙣𝙜 𝙚𝙣𝙤𝙪𝙜𝙝
There’s one thing that you should remember when advertising on Facebook:
Test, test, and test!
So, if your Facebook ads are not converting, test out some different images (or videos), ad copy, and headlines.
You will never be able to predict which combination of these factors will convert the best, so the only option left is to test them all out.
Don’t be afraid to test the ad more than once. The more you test, the more you’ll be able to understand what works and what doesn’t.
When testing different ads, remember to try out different marketing angles as well.
I hope this helps you out, if you have any questions leave them in the comment section below and I’d be more than happy to answer in as much detail as possible.
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Hi,I ordered one item from China warehouse to United Kindom.I ordered a week ago but it still processing.I didn't understand.Why you say processing time is 3 days.I don't believe in I can receive it. ... See MoreSee Less
another working day ☕️☕️☕️ ... See MoreSee Less
I am having issues with my CJ agent. She doesn't inform me on important changes on products that I have placed orders, eg out of stock etc. I have to find out by myself when its too late. I am seriously thinking of finding another supplier. Can anyone help? Thanks ... See MoreSee Less